Take action by making the best decisions for your business, thanks to an optimal level of data maturity.
Do you think you have all the data you need to make decisions and take action effectively?
Every day, you collect more and more data from your network of sales outlets and franchisees.
Your organisation is doing its utmost to assemble, analyse and exploit this data to implement actions that will improve business performance. If you have started reading this article, chances are you already know a lot about data analysis and are applying your knowledge as a data master to your business.However, something tells you that you can go even further to understand this raw data? You are right!
This article will learn how to make the best decisions for your retail network through optimal data reading.
What is the level of your data maturity ?
Data maturity is often believed to be a company’s ability to collect as much data as possible. However, this is not the case, as it is not enough to have a multitude of data to read it successfully and make effective decisions. Once this raw data has been collected, a crucial step remains to be taken: linking it together to make it speak for itself about the objectives set. The figures, trends, customer behaviour, seasonality, average basket, etc., are parameters that you will be able to monitor with extreme precision. Data maturity is a question of quality, not quantity.
Data maturity also means knowing how to choose your analysis system, the monitoring platform that will allow you to achieve this level of precision with ease. Dgenious, our retail business monitoring platform, is one of them.I TEST MY DATA MATURITY
To increase your data maturity, centralise your data.
In 2021, too many companies are still forced to work with different sources, then work on them in Excel and finally send them manually to their network according to the departments.
This is a regrettable situation, especially as solutions exist to overcome this problem. Centralising data means that you are not dependent on an IT manager to produce the data you need. The various data collected are automatically listed in the same place. With a data monitoring platform, it is no longer necessary to fine-tune your reports before sending them to each team member; this is done automatically.
Once this data collection stage has been set up, you will save time and be more efficient. After all, don’t you deserve to put your time and energy into actions that will truly bring value to your retail network?
In addition to being a disruptive technology, dgenious offers
- unparalleled ease of use,
- automates the sharing of your custom reports
- and gives you the ability to collect all the data you need without the need for your IT team or an external consultant.
There are no additional costs and no waiting times!
The level of accuracy of your data says a lot about your data maturity.
Being able to rely on an excellent level of detail is a real opportunity today. Analysing your data with a higher level of accuracy is a must for any data master as it is an additional way to make the best decisions for your business. Do you have access to the level of accuracy your business needs today? Using a retail business monitoring platform such as dgenious gives you the ability to work at an infinite level of granularity.
Being able to collect your data in real time, a sure sign of data maturity!
What do you think about real-time data analysis?
I don’t need real-time? I have the figures for the week, and that’s enough for me?
Or: It’s already complicated to compile the figures once a week, so in real-time…”
If this is the case, we understand this feeling perfectly. When the retail managers we meet say that they do not need real-time, it is clear that it is not real-time or its benefits that are being questioned. Instead, it is a question of how to get and use real-time easily because it does in fact, provide an undeniable added value. Indeed, it allows you to move from reactive to proactive management of your performance. Thanks to real-time, you can make better decisions in record time. You’ll be more efficient, and you’ll optimise your previous results.
And by listening to the market and its customers, you’ll always be one step ahead of the competition. So if the question is: How complex is it to use real-time data monitoring, the answer is: with dgenious, it’s as easy as pie!
dgenious is there at the most crucial time for you: the time when your customers pay: the “Money Time”.
- With dgenious, a simple connection to your cash register or payment systems is all it takes for all the information to be immediately available to you.
- You can consult in real-time, via your iPhone, the promotion figures launched this morning by point of sale. You can see whether identified customers are buying more or less than unidentified customers. Or which promotional item is selling the most, per store and hour.
- Are you missing an analysis you need? Log in to dgenious and do the research yourself!
To conclude this article, I invite you to listen to episode 10 of our podcast “dgenious, let’s talk retail”.
How to successfully collaborate between IT and business departments in your retail chain?
